291 E Mel Ave UNIT 252Palm SpringsCA92262
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Palm Springs at 291 E Mel Ave UNIT 252, Palm Springs, CA, 92262 generates $2,362/mo in rent, after a $1,859/mo payment. Total monthly income is $2,362/mo. Return on cash invested sits at 15.16% in year one, and rental yield is 7.46% on a $379,900 entry. Equity gained on principal adds $2,451/yr, while 5% annual appreciation builds toward $104,959 over five years. Five-year ROI reaches 79.14% and total cumulative return in cash sums $99,665. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,362/mo property income rather than buyer’s personal income.
Condo
Built in 1983
1,263 sqft lot
$N/A/sqft
$395 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 92262, Palm Springs, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,725 (100%) |
| Owner Occupied HU | 8,475 (43.0%) |
| Renter Occupied HU | 6,025 (30.5%) |
| Vacant Housing Units | 5,225 (26.5%) |
| Median Home Value | $778,535 |
| Average Home Value | $846,527 |
Housing Distribution
Address Breakdown
Residential
15,931
Single Family
14,634
Multi-Family
1,297
Businesses
1,444
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Chad Dannecker • Compass
Mls Name: SDMLS
Mls Provider:
Mls ID: #240025645
Disclaimer: This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, noncommercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation 2025 San Diego MLS.